KRG Capital Splits and Sells Vention Medical

by | Feb 24, 2017 2:47 pm | Medical Devices, Private Equity

Vention Medical Inc. has undergone some major changes this year, and it’s still the first quarter. Vention, a portfolio company of KRG Capital Partners, designs and manufactures complex medical devices and components used in interventional and minimally invasive surgical products. As of February 20th, its two core business units were sold to separate companies. Vention Medical consisted of the Advanced Technologies (Vention AT) business and a separate Device Manufacturing Services (Vention DMS) business, a contract manufacturing operation. Nordson Corporation (NASDAQ: NDSN) acquired Vention AT for $705 million in an all-cash transaction on February 20, 2017. This... Read More »

Steward Health Buys 8 Community Health Hospitals

by | Feb 17, 2017 4:49 pm | Hospitals, Private Equity

It’s no secret that Community Health Systems (NYSE: CYH) is selling off hospitals and medical office buildings to pay down its $15 billion debt. Its latest deal offloads eight hospitals with a total of 1,818 beds in Florida, Ohio and Pennsylvania to Steward Health Care LLC for an undisclosed price. The hospitals involved in this deal are Wuesthoff Health System-Melbourne (119 beds) in Melbourne, Wuesthoff Health System-Rockledge (298 beds) in Rockledge, and Sebastian River Medical Center (154 beds) all in Florida; ValleyCare Health System of Ohio, which consists of Northside Medical Center (355 beds) in Youngstown, and Trumbull Memorial Hospital (311 beds) and Hillside Rehabilitation... Read More »

Allergan and Hologic Add Aesthetic Devices

by | Feb 15, 2017 9:58 pm | Medical Devices

Two days in February, two multi-billion-dollar deals in the Medical Device sector. But these aren’t your everyday deals for prosthesis, abdominal stents or novel surgical tools. Both target companies fall into the medical aesthetics category of medical devices, which includes body contouring and other cosmetic procedures that are generally cash-pay businesses. On February 13, 2017, Allergan plc (NYSE: AGN) purchased ZELTIQ® Aesthetics, Inc. for $2.48 billion, or $56.50 per share. ZELTIQ® Aesthetics develops and commercializes products utilizing its controlled-cooling technology platform. Its flagship CoolSculpting system is FDA-cleared to affect appearance through lipolysis or... Read More »

Quotient Clinical Builds a U.S. CRO Presence

by | Feb 15, 2017 9:46 pm | CRO, Other Services

The clinical research (CRO) market in the United States has attracted the interest of foreign investors looking to build up their platforms overseas. Quotient Clinical, a privately-held CRO based in Edinburgh, Scotland, acquired two U.S.-based CROs in February 2017, in an effort to bring its innovative Translational Pharmaceutics ® platform to America. But this CRO had to change a few hands over the past few years before it could reach acquirer status. In December 2013, the U.K.-based Quotient Bioresearch Group sold Quotient Clinical to London-based Bridgepoint Development Capital, marking Bridgepoint’s entry into a growing CRO market. Just two years later, in December 2015,... Read More »